All articles by Edmund Tirbutt
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Case StudiesAllianz UK adjusts support for staff with chronic health conditions
A surge in chronic conditions since lockdown has seen insurer Allianz UK implement a range of more sophisticated processes and systems.A more detailed workplace adjustment process, rolled out across its 27 nationwide branches in April 2023, triaged nearly 300 people requiring adjustments last year to appropriate forms of support. Around ...
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AnalysisHas hybrid working affected the way chronic conditions are treated?
Credit: Fida Olga/Shutterstock Need to know: The pandemic has greatly increased employers’ focus on chronic conditions. Listening to chronic condition sufferers is key. Group income protection has an important role to play. It is unclear whether chronic health conditions as a whole increased directly due ...
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ArticleBuyer's guide to healthcare trusts
Credit: everydayplus/shutterstockWhat are healthcare trusts? Healthcare trusts enable employers to provide self-funded medical cover to employees. Unlike private medical insurance (PMI), healthcare benefits are paid for from a trust fund, set up with trust rules.The value of the fund is based on an estimated annual claims bill. There is an ...
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AnalysisWhat role does private medical insurance play in today’s benefits packages?
Need to know:Employers want to provide private medical insurance (PMI), even if it means reducing cover.More want to offer at least a measure of benefit to the whole workforce.Low-cost schemes with major exclusions are popular.Private medical insurance (PMI), which covers curable short-term medical conditions, has never been more popular in ...
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Case StudiesGreif offers low-cost private medical insurance to whole UK workforce
Global industrial packaging firm Greif’s introduction of an Equipsme private medical insurance (PMI) scheme for its UK workforce in May 2023 represented an important step in its desire to foster a culture of purpose and wellbeing, reduce presenteeism and absenteeism and enhance recruitment and retention.Michelle Crown, HR manager, UK, at ...
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AnalysisKey points about private medical insurance open referral
If you read nothing else, read this…Some insurers now offer the option to restrict consultant choice for claimants.Exact terms differ significantly between insurers.This approach can reduce costs and improve quality.But claimants unable to access consultants of their choice can be disappointed.Effective communication programmes are essential.Instead of claimants being able to ...
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AnalysisHow to align group risk benefits with business strategy
If you read nothing else, read this:Many group risk schemes are the result of legacy business rather than current strategy.Employers are increasingly valuing income protection for its ability to reduce absenteeism.Auto-enrolment could result in employers taking a more strategic view towards group risk.In an ideal world, group life, income protection ...
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Case Studies
DAS UK Group staff value income protection and life cover
Paul Timmins, chief operating officer at DAS UK Group, says: “It has been a deliberate part of our business strategy to offer these products because we want to attract and retain high-quality and skilled staff.“We employ a large number of lawyers, accountants, actuaries and other insurance and legal services professionals, ...
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Analysis
Group risk: What to do when rebroking
If you read nothing else, read this… The hardening of group risk rates is resulting in rebroking focusing on factors other than price. Specialist intermediaries can review group risk product features on behalf of employers. SME intermediaries may restrict product comparisons to two or three insurers. Holding ...
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Analysis
Group risk: Income protection versus life insurance
If you read nothing else, read this… Television advertising has boosted employer awareness of group income protection (GIP), but life cover remains far more popular. GIP premiums tend to be more expensive than life cover, but the product can reduce absenteeism costs significantly. A trend towards limited-term GIP could make ...
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Article
Buyer's guide to private medical insurance 2012
Focus on factsWhat is PMI?Private medical insurance (PMI) pays for the costs of private medical treatment, enabling claimants to jump the NHS queue and arrange treatment at a convenient time.What are the origins of PMI?The first PMI policy was launched by Crusader Insurance (now part of Cigna) in 1907. Prior ...
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Article
Buyer's guide to multinational pooling 2012
Key factsWhat is multinational pooling?It is a global financing mechanism that allows multinational organisations to benefit from favourable claims experience on life and health insurance through the payment of dividends and achieving purchasing scale.Where can employers get more information?The International Employee Benefits AssociationWho are the main providers in the market?All ...
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Analysis
Health cash plans: Using cash plans to reduce PMI costs
If you read nothing else, read this…Employers are looking to combat the rising cost of private medical insurance (PMI) by introducing an excess. An excess of £100 can secure a premium saving of 7% to 10%.A common trend is to plug the PMI excess gap for employees by introducing a ...
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Case Studies
Case study: Cash plan eases PMI excesses at Gallagher Heath
Gallagher Heath uses a health cash plan to cover some of the excess from its private medical insurance (PMI) scheme.Only 340 senior employees at the insurance broker and risk management firm are members of its employer-paid PMI scheme, provided by WPA via a healthcare trust. But since October 2008, all ...
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Analysis
New model emerges for private medical insurance
If you read nothing else, read this ...Many conditions that used to require inpatient stays now only require day-case or outpatient treatment.Some experts see insurers providing company-paid cover for outpatient and day-case treatment, but inpatient cover as an employee-paid option.No PMI insurers formally offer this yet, but Cigna HealthCare has ...
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Article
Buyer's guide to critical illness insurance
Key factsWhat is critical illness insurance?Group critical illness insurance pays a tax-free lump sum if an employee is diagnosed with one of a number of stated serious health conditions and subsequently survives for a specified period typically 14 days. Payment is made regardless of how long it takes to recover, ...
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Analysis
Will rebroking group risk save money?
If you read nothing else, read this . . . Rebroking group risk benefits can save employers significant sums, particularly if they have not done so for several years. Savings can be made by removing any overlap in benefits. For example, some income protection providers automatically provide EAPs. Employers should ...
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Case Studies
Case study: Retaining insurer slashes price for Geotechnical Instruments
Not all cost savings achieved through rebroking involve switching insurer. An employer often stays put because its insurer offers to reduce its price once it realises the intermediary has come up with more competitive quotes. Many intermediaries offer the holding insurer the chance to requote once quotes from elsewhere have ...
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Article
Buyer's guide to group income protection 2011
FOCUS ON FACTSWhat is group income protection?Group income protection pays a regular monthly benefit if staff are unable to work due to long-term sickness or disability. Standard schemes pay benefits until retirement date, but limited-term schemes pay for a maximum oftwo to five years, or sometimes up to 10 years. ...
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Analysis
The impact of welfare reform on rehabilitation services
If you read nothing else, read this…So far, the impact of welfare reform on employers has been limited.Employers have access to government occupational health helplines to supplement fit notes.Group income protection schemes offer free rehabilitation and early intervention services.Employers should try to notify insurers as early as possible when employees ...